PROSPECTUS Pricing Supplement No. 2988
Dated January 10, 1995 Dated April 1, 1997
PROSPECTUS SUPPLEMENT Rule 424(b)(3)-Registration
Dated January 25, 1995 Statement No. 33-60723
GENERAL ELECTRIC CAPITAL CORPORATION
GLOBAL MEDIUM-TERM NOTES, SERIES A
(Redeemable Fixed Rate Notes)
Trade Date: April 1, 1997
Settlement Date (Original Issue Date): April 4, 1997
Maturity Date: April 6, 2012 (subject to earlier redemption, as
set forth under "Additional Terms-Redemption")
Principal Amount (in Specified Currency): US$25,000,000
Price to Public (Issue Price): 100.00%
Agent's Discount or Commission: 0.00%
Net Proceeds to Issuer: US$25,000,000
Interest Rate Per Annum: 7.75%
Interest Payment Date(s):
___ March 15 and September 15 of each year
X Other: April 6 and October 6 of each year, commencing on
October 6, 1997 (with respect to the period from and
including April 4, 1997 to but excluding October 6, 1997)
Form of Notes:
X DTC registered ___ non-DTC registered
Repayment, Redemption and Acceleration
Initial Redemption Date: April 6, 1998, and thereafter on any
Interest Payment Date (See "Additional Terms--Redemption"
below)
Initial Redemption Percentage: 100%
Optional Repayment Date: Not applicable ("N/A")
Annual Redemption Percentage Reduction: N/A
Modified Payment Upon Acceleration: N/A
CAPITALIZED TERMS USED IN THIS PRICING SUPPLEMENT WHICH ARE DEFINED
IN THE PROSPECTUS SUPPLEMENT SHALL HAVE THE MEANINGS ASSIGNED TO
THEM IN THE PROSPECTUS SUPPLEMENT.
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(Fixed Rate Notes)
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Pricing Supplement No. 2988
Dated April 1, 1997
Rule 424(b)(3)-Registration
Statement No. 33-60723
Original Issue Discount:
Amount of OID: N/A
Yield to Maturity: N/A
Interest Accrual Date: N/A
Initial Accrual Period OID: N/A
Amortizing Notes:
Amortization Schedule: N/A
Dual Currency Notes:
Face Amount Currency: N/A
Optional Payment Currency: N/A
Designated Exchange Rate: N/A
Option Value Calculation Agent: N/A
Option Election Date(s): N/A
Indexed Notes:
Currency Base Rate: N/A
Determination Agent: N/A
Additional Terms:
Interest.
Interest on the Notes will accrue from and including April 4,
1997 and will be payable in U.S. dollars semi-annually on April
6 and October 6 each year, commencing October 6, 1997 (with
respect to the period from and including April 4, 1997 to but
excluding October 6, 1997) or date of earlier redemption (each,
an "Interest Payment Date"). Interest will accrue from and
including each Interest Payment Date to but excluding the next
succeeding Interest Payment Date. In the event an Interest
Payment Date falls on a day other than a Business Day, interest
will be paid on the next succeeding Business Day and no interest
on such payment shall accrue for the period from and after such
Interest Payment Date to such next succeeding Business Day.
Optional Redemption.
The Company may at its option elect to redeem the Notes in whole
on April 6, 1998 or on any Interest Payment Date thereafter
(each such date, an "Optional Redemption Date") at 100% of their
principal amount plus accrued interest to but excluding the date
of redemption (the "Redemption Date"). In the event the Company
elects to redeem the Notes, notice will be given to registered
holders not more than 60 nor less than 30 days prior to the
Redemption Date.
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(Fixed Rate Notes)
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Pricing Supplement No. 2988
Dated April 1, 1997
Rule 424(b)(3)-Registration
Statement No. 33-60723
Certain Covenants of the Company.
As of August 1, 1996, the Company entered into a supplemental
indenture with The Chase Manhattan Bank, as trustee, eliminating
the covenants of the Company described in the Prospectus under
the caption "Certain Covenants of the Company". Consequently,
the information under such caption is not applicable to the
Notes.
Additional Information:
General.
At December 31, 1996, the Company had outstanding indebtedness
totalling $121.792 billion, consisting of notes payable within
one year, senior notes payable after one year and subordinated
notes payable after one year. The total amount of outstanding
indebtedness at December 31, 1996 excluding subordinated notes
payable after one year was equal to $121.095 billion.
Consolidated Ratio of Earning to Fixed Charges.
The information contained in the Prospectus under the caption
"Consolidated Ratio of Earnings to Fixed Charges" is hereby
amended in its entirety, as follows:
Year Ended December
1992 1993 1994 1995 1996
1.44 1.62 1.63 1.51 1.53
For purposes of computing the consolidated ratio of earnings to
fixed charges, earnings consist of net earnings adjusted for the
provision for income taxes, minority interest and fixed charges.
Fixed charges consist of interest and discount on all
indebtedness and one-third of rentals, which the Company
believes is a reasonable approximation of the interest factor of
such rentals.
Documents Incorporated by Reference.
The information contained in the Prospectus in the first
paragraph of text under the caption "Documents Incorporated by
Reference" is hereby amended in its entirety, as follows: There
is hereby incorporated in the Prospectus by reference the
Company's Annual Report on Form 10-K for the year ended December
31, 1996.
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(Fixed Rate Notes)
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Pricing Supplement No. 2988
Dated April 1, 1997
Rule 424(b)(3)-Registration
Statement No. 33-60723
Plan of Distribution:
The Notes are being purchased by Smith Barney Inc. (the
"Underwriter"), as principal, at the Issue Price of 100.00% of
the aggregate principal amount.
The Company has agreed to indemnify the Underwriter against
certain liabilities, including liabilities under the Securities
Act of 1933, as amended.
